Regional News

New York-based Compass gets $450M from SoftBank

By Editor 0 Comments NEWS, Regional News

Less than a month after raising $100 million led by Fidelity, real-estate startup Compass is striking while the iron is hot. The company has now picked up an even bigger investment of $450 million, this time from the SoftBank Vision Fund, plus another $50M in secondary deals, to fill out a vision of its own: taking its real estate rental and sales platform global.

New York-based Compass is now valued at $2.2 billion post-money, up from $1.8 billion just four weeks ago, with $775 million raised to date.

The massive round essentially overlapping with the previous round — Allon was closing the SoftBank deal in Japan on the same day that the Fidelity investment was getting announced — is not the first notable financial milestone for the startup.

Ori Allon, the co-founder and chairman of Compass, said in an interview that the plan is not only to keep growing in the US from its current footprint of 11 cities — that was one of the stated purposes for the last $100 million in funding — but now to turn that strategy to a wider, global stage.

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